Pulsar Helium Provides Update on Timetable for Definitive Agreement for Helium Liquefaction Plant

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LONDON, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (AIM: PLSR) (TSXV: PLSR) (OTCQB: PSRHF) (“Pulsar” or the “Company”), a primary helium company, provides an update on the binding Letter Agreement and Limited Notice to Proceed ("LNTP") announced on June 30, 2026. The Letter Agreement and LNTP were entered into by Pulsar’s wholly owned subsidiary, Keewaydin Resources Inc. (DBA Pulsar Helium), with an arm's length third party vendor for the reservation of a helium liquefaction plant and related equipment package for potential deployment in Minnesota.
As previously announced, the proposed equipment package is expected to include helium purification and liquefaction equipment, CO₂ capture equipment, compression, storage, controls, documentation, spares and related services, with the final scope to be agreed in the Definitive Agreement. The proposed plant configuration contemplates helium liquefaction capacity of approximately 940 liters per hour and CO₂ capture capacity of approximately 300 tonnes per day, subject to final specifications and operating conditions.
The parties had previously agreed to use commercially reasonable efforts to negotiate and execute the definitive purchase agreement relating to the equipment package (the “Definitive Agreement”) by July 31, 2026. The parties have now agreed to extend the target date for execution of the Definitive Agreement to September 30, 2026, or earlier if both parties are ready to proceed. The additional time reflects the scope of the proposed transaction and is required to allow the parties to complete the remaining commercial, technical and internal review and approval processes. These workstreams are progressing well and require further coordination before the Definitive Agreement can be finalized. Importantly, Pulsar’s exclusive reservation rights under the Letter Agreement in respect of the proposed helium liquefaction plant and related equipment package remain fully in effect throughout the extended period on the existing terms, without any additional reservation cost arising from the extension, and the agreed pricing basis is preserved. The LNTP also remains in full force and effect, with amounts paid thereunder to be credited as previously agreed.
The parties will continue to use commercially reasonable efforts to negotiate and execute the Definitive Agreement by the revised target date. Completion of the transaction remains subject to execution of the Definitive Agreement, final equipment scope and specifications, financing arrangements, due diligence, delivery and commissioning terms, title and equipment confirmations, regulatory approvals (including the approval of the TSX Venture Exchange) and other customary conditions.
About the Topaz Project
The Topaz Project is Pulsar’s flagship primary helium project located in northern Minnesota, United States. Topaz is a non-hydrocarbon helium system being advanced as a potential domestic source of helium, with the additional opportunity to evaluate valuable by-products, including CO2 and He-3, as part of future development. The project is located in a stable U.S. jurisdiction with proximity to North American end markets and has the potential to support critical domestic supply chains, skilled employment and economic development in Northeastern Minnesota.
On behalf of Pulsar Helium Inc.
“Thomas Abraham-James”
CEO and Director